Tesla Motors Inc. (NASDAQ:TSLA) released its quarterly earnings results on Wednesday. The electric vehicle producer reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.25. Tesla Motors had a negative net margin of 24.64% and a negative return on equity of 46.30%. The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.33 billion. During the same period in the previous year, the firm earned ($0.58) EPS. Tesla Motors’s revenue was up 145.3% on a year-over-year basis.

Shares of Tesla Motors (NASDAQ:TSLA) traded up 4.5153% during mid-day trading on Thursday, hitting $211.3717. 5,784,475 shares of the company were exchanged. The firm has a 50 day moving average of $202.21 and a 200 day moving average of $218.06. Tesla Motors has a 12-month low of $141.05 and a 12-month high of $269.34. The company’s market capitalization is $31.43 billion.

Earnings History for Tesla Motors (NASDAQ:TSLA)

TSLA has been the topic of several recent research reports. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Tesla Motors in a research note on Saturday, July 9th. Goldman Sachs Group Inc. reaffirmed a “hold” rating and issued a $185.00 price objective on shares of Tesla Motors in a research note on Thursday. Piper Jaffray Cos. reaffirmed a “hold” rating and issued a $223.00 price objective on shares of Tesla Motors in a research note on Thursday. Standpoint Research reaffirmed a “hold” rating and issued a $180.00 price objective on shares of Tesla Motors in a research note on Thursday. Finally, Morgan Stanley reaffirmed a “hold” rating and issued a $245.00 price objective on shares of Tesla Motors in a research note on Thursday. Nine equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and ten have issued a buy rating to the stock. Tesla Motors currently has a consensus rating of “Hold” and a consensus target price of $249.58.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. increased its position in Tesla Motors by 8.7% in the second quarter. American Century Companies Inc. now owns 683,673 shares of the electric vehicle producer’s stock worth $145,130,000 after buying an additional 54,661 shares during the period. APG Asset Management N.V. increased its position in Tesla Motors by 11.7% in the second quarter. APG Asset Management N.V. now owns 163,626 shares of the electric vehicle producer’s stock worth $34,735,000 after buying an additional 17,200 shares during the period. Meritage Group LP increased its position in Tesla Motors by 85.0% in the second quarter. Meritage Group LP now owns 141,808 shares of the electric vehicle producer’s stock worth $30,103,000 after buying an additional 65,168 shares during the period. Korea Investment CORP increased its position in Tesla Motors by 12.2% in the second quarter. Korea Investment CORP now owns 139,300 shares of the electric vehicle producer’s stock worth $29,571,000 after buying an additional 15,200 shares during the period. Finally, BlackRock Japan Co. Ltd increased its position in Tesla Motors by 3.4% in the second quarter. BlackRock Japan Co. Ltd now owns 126,024 shares of the electric vehicle producer’s stock worth $26,752,000 after buying an additional 4,177 shares during the period. 66.62% of the stock is owned by institutional investors and hedge funds.

About Tesla Motors

Tesla Motors, Inc designs, develops, manufactures and sells electric vehicles and energy storage products. The Company produces and sells two electric vehicles: the Model S sedan and the Model X sport utility vehicle (SUV). The Company has delivered over 107,000 Model S vehicles across the world. In addition to developing its own vehicles, it sells energy storage products.

5 Day Chart for NASDAQ:TSLA

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